November 30, 2015
PR No. 279/2015

Order against the past directors of M/s Sun-Plant Business Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated November 20, 2015 against the past directors of Sun-Plant Business Limited (SBL), viz. Shri Girija Shankar Kumar and Shri Awdhesh Kumar Singh inter-alia directing that the above mentioned Directors are prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities, in any manner whatsoever, either directly or indirectly, till further orders;
 
The abovementioned past Directors of SBL are restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly, till further directions; 

Further, the abovementioned past Directors of SBL shall provide a full inventory of all his assets and properties.
 
The company was engaged in fund mobilizing activity through issue of Redeemable Preference Shares (RPS) to more than 49 persons without complying with relevant provisions of the Companies Act, 1956 and the SEBI Act, the DIP Guidelines (read with ICDR Regulations)
 
The above mentioned persons were earlier Directors of SBL during the offer of RPS by SBL.

Mumbai
 
November 30, 2015

For full copy of order against AWDHESH KUMAR SINGH, click here.

For full copy of order against GIRIJA SHANKAR KUMAR, click here.